Okay here's my take on some of the figures;So I based the...

Okay here's my take on some of the figures;


So I based the contribution to net profit on the figures reported in the annual FY20 results ~43%.
I've rounded this down to 40% to be conservative (in reality it could push to 50%)

Taking the 4th year profit figure and bringing back to PV using a high margin of safety given an increase of profit by $8.6m NZD.

Can take a multiple of EBIT to then project todays increase in shareholder value. (I'll leave this for others).


Overall, a super positive announcement - I'm not surprised the market hasn't taken off though. This business is very much misunderstood.